DGAP-News: comdirect bank AG / Key word(s): Merger
comdirect bank AG: Acquisition of OnVista AG concluded
03.04.2017 / 12:24
The issuer is solely responsible for the content of this announcement.
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comdirect bank AG: Acquisition of OnVista AG concluded
* Growth acquisition: OnVista Bank GmbH and OnVista Media GmbH are part of
comdirect group with immediate effect
* OnVista Bank GmbH still on growth course: 98 thousand customers and
EUR2.5bn total assets under management as of end of 2016
* Merger of OnVista Bank GmbH into comdirect bank AG planned
* Name OnVista Bank and OnVista Media GmbH with www.onvista.de financial
portal are to be continued
Quickborn, Germany, 3 April 2017. Following approval from the banking
supervisory and antitrust authorities, comdirect bank AG has today concluded
the full acquisition of OnVista AG from Boursorama S.A., as announced in
December 2016. OnVista AG includes online broker OnVista Bank GmbH and
OnVista Media GmbH, which operates the www.onvista.de financial portal. "The
purchase of OnVista AG is a growth acquisition," says Arno Walter, CEO of
comdirect bank AG. "The acquisition lays a good foundation for additional
growth and also strengthens our position as the market leader in Germany for
brokerage in terms of trade figures."
The merger of OnVista Bank GmbH into comdirect bank AG in the second quarter
is the next planned step. The aim is to simplify the structure under
corporate law as well as the associated regulatory reporting system. "The
merger is above all a formal action. OnVista Bank will be managed in future
as a division of comdirect. This means we require only one bank licence
instead of two," explains comdirect bank AG CFO Dietmar von Blücher.
The merger has no immediate effect for the customers of OnVista Bank. The
name OnVista Bank will be kept on, IBANs and access data will remain the
same, and the pricing policies are to be maintained.
Just like comdirect, OnVista Bank GmbH continues to grow, having increased
its total assets under management as of the end of 2016 to around EUR2.5bn
and its number of customers to around 98 thousand. The merger will lay the
foundation for the successful further development and continued profitable
growth of the comdirect group. This is expected to lead to additional
pre-tax profit of around EUR10m per year from 2019.
With its financial portal www.onvista.de, OnVista Media GmbH is to remain a
wholly-owned subsidiary of comdirect bank. According to Walter, "onvista.de
is not only a well-known name among securities customers, the portal is one
of the most successful financial platforms on the market. We intend to keep
it that way."
Contacts for this press release
Annette Siragusano
Tel. +49 (0)41 06 704 1960
Email: annette.siragusano@comdirect.de
Ullrike Hamer
Tel. +49 (0)41 06 704 1545
Email: ullrike.hamer@comdirect.de
Information for editorial teams
All our press releases are available at: www.comdirect.de/presse
Image material is available at:
www.comdirect.de/cms/ueberuns/de/presse/presse-fotos.html
News about digital trends and innovations in all things finance can be found
on the comdirect Board of Managing Directors blog at www.bank-neu-denken.de
Follow us on Twitter at https://twitter.com/comdirect or
https://twitter.com/Arno_Walter
If you no longer wish to be sent information, please let us know by writing
to presse@comdirect.de
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03.04.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: comdirect bank AG
Pascalkehre 15
25451 Quickborn
Germany
Phone: + 49 (0) 4106/704-0
Fax: + 49 (0) 4106/708-2580
E-mail: info@comdirect.de
Internet: www.comdirect.de
ISIN: DE0005428007
WKN: 542800
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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561151 03.04.2017